Taiwan's Financial Supervisory Commission Says No To Bitcoin ATMs
Yesterday, Robocoin's blog revealed that Bitcoin ATMs were to be revealed in Hong Kong and Taiwan by the end of the month as part of a global expansion program building on the success of the first Bitcoin ATM in Vancouver, Canada. In prompt response, the head of Taiwan's Financial Supervisory Commission (FSC) Tseng Ming-Chung [Pictured above] issued a statement essentially banning Bitcoin ATMs from appearing in Taiwan. For those that have been following Bitcoin news out of Asia, the FSC's prompt destruction of the Bitcoin ATM dream in Taiwan should not come as a surprise. Taiwan's Central....
Related News
This Monday, the Taiwanese Financial Supervisory Commission (FSC) declared Bitcoin an illegal asset. Last year the Taiwanese central bank issued a warning stating that bitcoin was a highly speculative virtual asset and lacked a mechanism to protect its transactions. Now, claims of illegal activities being conducted with aid of the virtual currency were taken to court by the Taiwanese Financial Supervisory Commission. It all began when a Hong Kong tycoon was kidnapped and held hostage for more than a month by a gang in Taiwan. The gang was demanding a ransom to be paid in bitcoin. Today,....
Taiwan's Financial Supervisory Commission (FSC) has stated it will prevent the installation of Robocoin bitcoin ATMs there, responding almost immediately to the company's plans to introduce machines in Taiwan and Hong Kong. Zeng Mingzong, FSC chairman, made the statement in an interview with the Central News Agency (CNA). According to an article published on CNA's website at 14:56 Taipei time today: bitquick. "Central Bank and FSC recently released a joint statement warning against bitcoin. According to the Central Bank, bitcoin is not a currency; financial institutions and the public....
Cryptocurrency transactions using credit cards will no longer be allowed in Taiwan, as the island nation’s watchdog believes digital currencies are risky and speculative assets, local reports disclose. In a letter sent to the banking industry association earlier this month, Taiwan’s Financial Supervisory Commission urged them not to extend “merchant status” to digital asset providers […]
Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), has released a set of guiding principles explicitly designed for crypto-related firms and businesses. Thanks to this significant development, the East Asian country seems closer to attaining regulatory clarity in its cryptocurrency industry. Taiwan Restricts Offshore Virtual Asset Platforms In New Guidelines In a press release published […]
On 3/25/14, a Lamassu Bitcoin ATM was revealed in Taipei, Taiwan at the Gelateria Cosi o Cosi ice cream shop. The Gelateria is the first official place to spend Bitcoins in Taiwan and it is fitting that Taiwan's first Bitcoin ATM should end up there. The presence of this Bitcoin ATM flies in the face of Taiwanese government official Tseng Ming-Chung, who earlier this year said: ...it is impossible for a bitcoin ATM to come to or appear in Taiwan." Taiwan's first Lamassu Bitcoin ATM being prepped for its debut. Taiwanese Government Opposition To Bitcoin ATMs. At the beginning of 2014,....